Dominic Jones and Javed Rahman have established Skye Fund Services in Hong Kong with the aim of bringing a fresh approach to outsourced administration services for the alternative investment fund industry in Asia.

Jones and Rahman have extensive experience in administration and business process outsourcing in Europe, North America and Asia. The former is a former partner and founder shareholder at Mourant, the Jersey-based provider of legal and administration services.

Most recently he was chief executive of International Private Equity Services, a specialist Guernsey-based private equity administration firm with USD21bn in assets under administration. He previously worked for Clifford Chance and Morgan Stanley and is a lawyer qualified in the UK and France.

Rahman has more than 17 years of senior level experience in the US, Hong Kong and Singapore, heading administration and outsourcing businesses in both continents. He previously worked for financial services firms such as Citigroup, Mellon Financial, First Chicago (now part of JP Morgan Chase) and The Hartford.

'Skye's objective is to enable clients to focus on optimising the value of assets under management rather than spend time on non-core but critical support activities,' says Jones, who is chairman of Skye Fund Services. 'Our reliable and competent support is provided with the benefit of our years of experience in the industry that spans across three continents.'

Rahman, who is chief executive of the new firm, adds: 'We leverage our long industry experience, superior technology and stringent compliance and control to provide a unique solution to the administrative and support requirements of our customers.'